Mortgage Rates: Bank of England predicts further fall in rates

Cash ISA interest rates plummet to new low_istockThe Bank of England (BoE) has revealed, that banks and building societies expect mortgage rates to fall even further within the next few months. In the recent credit conditions survey conducted by the Bank, it was revealed that borrowing rates for homeowners have fallen in the first quarter of 2013; the third consecutive quarter rates have dropped....

Budget update: State Pension & Long Term Care proposals brought forward

State Pension & Long Term Care proposals brought forwardLast week’s Budget contained announcements that the introduction of the new flat rate State Pension and the cap on social care costs, will be brought forward by a year to 2016. So far so good, but how will these changes affect you? Flat rate State Pension It had previously been announced, that the new flat rate State Pension would be introduced for people retiring after 6th April 2017 and who had paid National Insurance ...

Budget update: Two changes which will affect all parents

Two measures which will affect all parentsLast week’s Budget contained at least two measures which will affect all parents. The first will help parents save for their child’s future, whilst the other could provide much needed cash assistance towards the costs of childcare; but beware, there will also be losers. Child Trust Fund transfers to Junior ISAs The first piece of good news came with George Osborne’s announcement that the government is to issue a consultation with a view to enabling  child savers to transfer ...

Budget 2013: Annuity incomes to fall on the back of more Quantitative Easing?

Falling profitsDespite small rises in Annuity rates over the past few weeks, yesterday’s Budget has dashed hopes that the trend will continue. Pension Annuity comparisons show that during February at least five Annuity providers have increased their rates, including a 3% rise from Aviva. However, gilt yields have dropped since their peak in the middle of February and there was more bad news yesterday, when in his fourth Budget, the Chancellor George Osborne, announced that the Bank ...